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Suppliers incentives and Rebates

This topic has 1 reply, 2 voices, and was last updated 9 years ago by MikeLittle.

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September 27, 2015 at 8:35 pm #273915
fngacca
Member
- Topics: 18
- Replies: 3
Dear Sir;
If we receive rebates from suppliers on a certain value of purchases, can we present them as other income?
September 28, 2015 at 9:19 am #273947
MikeLittle
Keymaster
- Topics: 27
- Replies: 23204
What are the rebates for – how do they arise? Are they in the nature of a belated trade discount? I can’t see a situation where they would not be treated as a reduction of raw material cost so, no, I can’t see treatment as “sundry / other income” being appropriate
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